Western Refining Reaches Revised Deal for Northern Tier

Cash-and-stock deal is valued at $2.43 billion

Western Refining Inc. agreed to acquire the remaining stake in Northern Tier Energy LP that it doesn’t already own in a revised offer that values the master limited partnership at $2.43 billion.

Under the deal, Northern Tier unit holders would receive $15 a unit in cash and 0.2986 Western Refining share for each common unit held, or roughly $26.21 a unit based on Monday’s close. The offer represents a 7.9% premium to Northern Tier’s Monday close.